Olin Corporation (NYSE:OLN) Stake Raised by Creative Planning
Creative Planning increased its stake in Olin Corporation (NYSE:OLN) by 130.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,050 shares of the specialty chemicals company’s stock after buying an additional 2,862 shares during the period. Creative Planning’s holdings in Olin Corporation were worth $153,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio raised its position in shares of Olin Corporation by 14.6% in the first quarter. Strs Ohio now owns 32,100 shares of the specialty chemicals company’s stock valued at $1,055,000 after buying an additional 4,100 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of Olin Corporation during the first quarter valued at $391,000. Naples Global Advisors LLC bought a new position in shares of Olin Corporation during the first quarter valued at $224,000. Oakbrook Investments LLC bought a new position in shares of Olin Corporation during the first quarter valued at $394,000. Finally, Columbus Circle Investors bought a new position in shares of Olin Corporation during the first quarter valued at $32,179,000. Institutional investors and hedge funds own 92.85% of the company’s stock.
Olin Corporation (NYSE OLN) traded up 1.22% on Friday, reaching $28.97. 968,963 shares of the company traded hands. The firm has a 50 day moving average price of $30.30 and a 200 day moving average price of $30.68. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 112.72 and a beta of 1.43. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88.
Olin Corporation (NYSE:OLN) last announced its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Equities research analysts predict that Olin Corporation will post $1.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.80%. Olin Corporation’s dividend payout ratio is 320.00%.
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Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. BidaskClub upgraded shares of Olin Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Tudor Pickering assumed coverage on shares of Olin Corporation in a report on Friday, May 12th. They set a “buy” rating and a $37.00 price objective on the stock. Finally, Cowen and Company set a $39.00 price objective on shares of Olin Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.75.
In other news, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the completion of the sale, the executive vice president now directly owns 84,391 shares in the company, valued at approximately $2,661,692.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John L. Mcintosh sold 16,070 shares of Olin Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total value of $498,491.40. Following the sale, the executive vice president now owns 60,391 shares of the company’s stock, valued at $1,873,328.82. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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